The government will implement market strategies to regulate real estate prices.
The primary solution involves increasing the supply of residential properties, which is expected to lead to a decrease in market prices.
The economic team will concentrate on three key areas to address this complex issue, which has significant social implications.
A. Residential Properties Held by Bank Servicers
The Risks of Overabundance – The Opportunities
A concerted effort among all stakeholders will aim to introduce 15,000 residential properties currently held by banks and servicers into the housing market, addressing the pressing housing crisis the government is facing.
Once these properties are made available for sale, it is anticipated that the increased supply will contribute to lowering prices.
This topic has been frequently discussed between the Ministry of Economy and the banks, notably during comprehensive talks between Minister Kyriakos Pierrakakis and the servicers.
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